Investment Objective

TCW’s objective is to maximize current income and achieve above-average total return while preserving capital and controlling relative interest rate risk.

Philosophy

The construction and management of investment grade corporate fixed income portfolios at TCW is guided by the following themes:

Diversification across industries as well as individual issuers is critical.

Long-term reliable income is the major source of controllable corporate bond returns. We are patient investors who prefer to spend time in researching credits rather than in frequent trading.

Credit specifics must be viewed in conjunction with economic and industry trends. We consider credit-value-spread as an integrated whole.

Performance Returns

as of 12/31/2018 (^ Annualized Performance updated quarterly)

Legal Disclosures

The source for all charts and tables above is TCW

Objective Disclosure

There can be no assurance that this strategy will be able to achieve its objectives.

The index is not available for direct investment; therefore its performance does not reflect a reduction for fees or expenses incurred in managing a portfolio. The securities in the index may be substantially different from those in the Fund.

About Portfolio Values and Holdings

Portfolio characteristics and holdings are subject to change at any time. It should not be assumed that an investment in the securities listed was, or will be, profitable.

About PerformancePerformance for any period not ending on a calendar quarter end is subject to adjustment at quarter end for accounts that are not present for the entire quarter. Past performance is no guarantee of future results.

This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Any issuers or securities noted
in this document are provided as illustrations or examples only, for the limited purpose of analyzing general market or economic conditions and may not form the basis for an
investment decision, nor are they intended to serve as investment advice. Any such issuers or securities are under periodic review by the portfolio management group and are
subject to change without notice. TCW makes no representation as to whether any security or issuer mentioned in this document is now in any TCW portfolio. TCW, its officers,
directors, employees or clients may have positions in securities or investments mentioned in this publication, which are subject to change without notice. Any information
and statistical data contained herein derived from third party sources are believed to be reliable, but TCW does not represent that they are accurate, and they should not be
relied on as such or be the basis for an investment decision. All information is as of the date of this presentation unless otherwise indicated.

Investment Team

Tad Rivelle

Group Managing Director

Tad Rivelle is Chief Investment Officer, Fixed Income, overseeing nearly $160 billion in fixed income assets, including nearly $85 billion of fixed income mutual fund assets under the TCW Funds and MetWest Funds brands. Prior to joining TCW, Tad served as Chief Investment Officer for MetWest, an independent institutional investment manager that he cofounded. The MetWest investment team has been recognized for a number of performance related awards, including Morningstar’s Fixed Income Manager of the Year. Mr. Rivelle was also the co-director of fixed income at Hotchkis & Wiley and a portfolio manager at PIMCO. Tad holds a BS in Physics from Yale University, an MS in Applied Mathematics from University of Southern California, and an MBA from the UCLA Anderson School of Management.

Laird R. Landmann

Group Managing Director

Mr. Landmann is a Generalist Portfolio Manager in the Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). Mr. Landmann currently serves on the boards of the TCW and Metropolitan West Mutual Funds. Mr. Landmann currently co-manages many of TCW and MetWest’s mutual funds, including the MetWest Total Return Bond Fund, the MetWest High Yield Bond Fund and the TCW Core Fixed Income Fund, and leads the fixed income group’s risk management efforts. He is a leader of the MetWest investment team that was recognized as Morningstar’s Fixed Income Manager of the Year for 2005 and has been nominated for the award eight times. Prior to founding MetWest in 1996, Mr. Landmann was a principal and the co-director of fixed income at Hotchkis and Wiley. He also served as a portfolio manager and vice president at PIMCO. Mr. Landmann holds an AB in Economics from Dartmouth College and an MBA from the University of Chicago Booth School of Business.

Stephen M. Kane, CFA

Group Managing Director

Mr. Kane is a Generalist Portfolio Manager in the Fixed Income group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). At MetWest, Mr. Kane was responsible for leading MetWest’s AlphaTrak, Ultra Short and Liability Driven Investment (LDI) products, and he co-manages many of the firm’s mutual funds. Under his co-leadership, the MetWest investment team was recognized as Morningstar’s Fixed Income Manager of the Year for 2005. Prior to establishing MetWest, he was a fixed income portfolio manager at Hotchkis and Wiley. He also served as a Vice President at PIMCO. Mr. Kane earned a BS in Business from the University of California, Berkeley and an MBA from the University of Chicago Booth School of Business. He is a CFA charterholder.

Bret R. Barker

Managing Director

Mr. Barker is a Specialist Portfolio Manager – Treasuries in the Fixed Income group. Mr. Barker joined TCW in 2009 during the acquisition of Metropolitan West Asset Man-agement LLC (MetWest). He is responsible for the portfolio management of Treasuries, TIPS, agencies, money market instruments, and derivatives. In conjunction with the generalist portfolio managers, he implements decisions on duration and yield curve positioning across all MetWest and several TCW products. Prior to joining MetWest in 1997, he worked at Coast Asset Management in their futures and options department. Mr. Barker earned a BBA in Business with a minor in classical studies from Loyola Marymount University.